Recently, the price value of XRP broke two crucial resistances $0.31 and $0.32 respectively by posting a price rally of around 10 percent. These breakouts brought the price value of the fifth-ranked cryptocurrency at a point where it had a pretty good chance to break above the figure of $0.33 as the coin surged as high as to reach $0.329 on the trading platform of the United States-based cryptocurrency exchange Kraken, according to the data from Trading View. However, the coin could not handle the heavy resistance at the $0.33 level and dropped again below the psychological level of $0.30. But it has not completely gone bearish and may head toward $0.35. For that, the breakout of $0.31 is necessary.
Statistics of XRP
As per the data from CoinMarketCap, the statistical data of XRP is given below:
Out of the entire digital currency market capitalization, XRP’s market cap is revolving at around $12,979,254,157.
The 24-hour trading volume is $4,023,198,096.
45,404,028,640 XRP is the total circulating supply of the fifth-ranked digital currency.
Current Price Value
At the press time, the price value of XRP is trading down 2.45% in the past 24 hours while standing at around $0.2799.
Price Analysis: XRP Price Is Currently Consolidating
Since the time the native cryptocurrency of the San Francisco-based blockchain remittance payments firm Ripple entered into the $0.28 – $0.29 range, it’s been trading slightly reddish. Though the overall sentiment is not bearish, there are still effects of bearishness surrounding the coin while making it difficult for the coin to go upward and show some bullish rally.
Source: Trading View
It has broken its psychological resistance of $0.30 a few times during the past 48 hours, but it got rejected at the $0.31 resistance level, which is a crucial one for the coin. It is currently looking to sneak through this price resistance so that it could move ahead towards the next bullish mark. XRP might hit the price mark of $0.35 in the next few days if it is able to get over the tough-to-break resistance of $0.31 in the short-term case scenario. Like earlier, it is expected to show a sharp price rally towards $0.40 as well if this resistance is broken.
Author of One of the World’s Most Sold Self-help Books Says Bitcoin Holders Will Get Rich as the Fed Prints ‘Fake Dollars’
The Reason Why Ripple’s XRP Has ‘Such a Loyal Army’, Explains Firm’s Former Principal Developer Advocate
After Years Long Litigation With the SEC, Ripple Anticipates the End of the Lawsuit
Ripple’s CTO Gives Befitting Reply to Ai Chatbot’s Conspiracy that Ripple Controls XRP Ledger Secretly
Best Board Meeting Software Solutions for All Different Needs
Recent Press Release
Know Encrypted International SIM Card. A new product to get secure communications and cybersecurity
In the current era in which privacy is increasingly scarce and violated, Cybersecurity has become more relevant within people and...
What Are the Perks of Using Trading Bots?
Many people like to trade stocks using either an automated system that runs on its own or by trading manually....
Top 10 Ways To Build Wealth With Modern And Traditional Approaches
Building wealth is a tedious job but in the right manner, it can be achieved. Many people aspire to become...
Is Young Money Superior To Old Money In The Latest Digital Age?
To the advantage of all of us, modern tech has accelerated economic progress, and we must keep embracing innovation, particularly...
5 Best Ways Artificial Intelligence Can Boost Your Business
Artificial intelligence (AI) is not only a concept for science fiction anymore; it is also starting to appear in business....